On the morning of the 26th, shares of Korea Petrochemical Ind. rose more than 8%. This follows projections from securities firms that it will turn to profit in the second half.
As of 9:24 a.m. on the 26th, Korea Petrochemical Ind. was trading at 122,500 won, up 10,000 won (8.89%) from the previous trading day on the Korea Exchange.
Yoon Jae-seong, a researcher at Hana Securities, noted in a report that "Korea Petrochemical Ind. is expected to succeed in turning to annual profit for the first time in four years, thanks to the rebound in the global petrochemical market and the competitiveness of its business structure," and presented a target price of 150,000 won.
Hwang Gyu-won, a researcher at Yuanta Securities Korea, explained, "With the third quarter as a turning point, the expected revenue for this year is 3.4 trillion won, and operating profit will be 41.4 billion won, marking the return to profit since 2021." He added, "In particular, the expected operating profit for the second half is 55.9 billion won, making it highly likely to recover from a deficit of 14.5 billion won in the first half."